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Hi BCollins_AMI,
Thanks for your updates.
Based on my test, with the same file provided in your private message, I can reproduce the issue with Microsoft Office 365 Business current channel and First release of deferred channel. The issue doesn't occur with deferred channel of Microsoft Office 365 Business or other channels of Office 365 ProPlus. (Moreover, some editions channel nameis changed, please capture all info under Product Information, in your former screenshot, we know it's Current Channel.)
So, to investigate this issue further, we may need to collect your tenant info and involve your tenant admin to this thread. You may share with us the info whenever you get it. We appreciate your effort.
Regards,
Tim